United Community Banks (NYSE:UCB) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of United Community Banks (NYSE:UCB) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on UCB. DA Davidson lifted their target price on United Community Banks from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Stephens lifted their price objective on shares of United Community Banks from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Weiss Ratings raised shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 3rd. Hovde Group cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and set a $38.00 target price for the company. in a report on Monday, February 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of United Community Banks from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.00.

United Community Banks Price Performance

Shares of UCB opened at $29.72 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $33.42 and its 200-day moving average price is $32.02. United Community Banks has a 1-year low of $22.93 and a 1-year high of $36.77. The firm has a market capitalization of $3.55 billion, a PE ratio of 11.39 and a beta of 0.84.

United Community Banks (NYSE:UCB) last issued its earnings results on Wednesday, January 14th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). United Community Banks had a return on equity of 9.49% and a net margin of 21.35%.During the same period in the previous year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year.

United Community Banks announced that its Board of Directors has initiated a share buyback program on Monday, December 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, March 13th. United Community Banks’s payout ratio is currently 38.31%.

Insider Buying and Selling

In related news, CAO Alan H. Kumler sold 12,043 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $35.36, for a total transaction of $425,840.48. Following the sale, the chief accounting officer owned 21,096 shares in the company, valued at approximately $745,954.56. This trade represents a 36.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

Large investors have recently bought and sold shares of the business. Cerity Partners LLC lifted its holdings in United Community Banks by 3.1% in the 4th quarter. Cerity Partners LLC now owns 9,955 shares of the company’s stock valued at $311,000 after purchasing an additional 298 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of United Community Banks by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 17,808 shares of the company’s stock valued at $556,000 after buying an additional 345 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of United Community Banks by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 11,761 shares of the company’s stock valued at $367,000 after buying an additional 365 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in United Community Banks by 10.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,880 shares of the company’s stock worth $123,000 after acquiring an additional 372 shares during the last quarter. Finally, Patten & Patten Inc. TN grew its stake in United Community Banks by 4.8% during the 4th quarter. Patten & Patten Inc. TN now owns 8,266 shares of the company’s stock valued at $258,000 after acquiring an additional 375 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.